It’s Now Much Harder for First-Time Buyers To Afford a Home Here

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 Newbies beware: Snagging your first home has gotten tougher. Find out where homeownership suddenly feels like a luxury prize. fizkes / Shutterstock.com

Home prices are heating up again in many markets. That fact is making new digs less affordable for many people, including millions of first-time homebuyers. In June, the average starter home nationwide sold for a record $243,000. Today’s first-time homebuyers now need an average annual income of $64,500 to afford a typical U.S. “starter” home, according to real estate company Redfin.

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